301 S Fourth Ave · Kure Beach, NC 28449

$1,600,000

4 bd · 3.5 ba · 2,768 sqft · SingleFamily public records · 6 Days on market

Built 2017 5,009 sqft lot

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great location, ocean view lot and ready to build, in the heart of Kure Beach, single family or muti unit. Listing Agent is related to seller.

Key facts

• Short walk to beach
• Open concept kitchen
• Private retreat

Tags

• CORNER LOT
• CUSTOM BUILT HOME
• SHORT WALK TO BEACH
• OPEN CONCEPT KITCHEN
• PRIVATE RETREAT
• LUXURIOUS EN SUITE BATH

Property features AI

Finance

• Other: Property type listed as residential
• Financial info: Financial details not specified
• HOA & community: HOA details not specified

Exterior

• Parking: 2 parking spaces total; 2-car attached garage with front-facing garage
• Security: Security details not specified
• Utilities: Public water; Sewer connected; Water connected; Cable available
• Home design: Single-family residence; Three or more levels; Entry level: 1; RA-2 zoning
• Construction: Fiber cement and frame construction; Foundation: slab and pillar/post/pier
• Exterior features: Outdoor shower; Balcony; Covered patio/porch areas; Deck; Patio; Front porch; Rear porch; Vinyl fencing in back yard; Shingle roof; Irrigation equipment; Has a view; Corner lot; Paved road frontage on city street and state road

Interior

• Kitchen: Gas cooktop; Built-in electric oven; Refrigerator; Disposal; Microwave; Kitchen island; Pantry
• Bedrooms: Bedroom count not specified
• Flooring: Flooring details not specified
• Bathrooms: 3 full bathrooms; 1 half bathroom; Accessible full bath
• Heating & cooling: Central air conditioning; Electric forced-air heating
• Interior features: Walk-in closets; Entrance foyer; Built-in bookcases; Kitchen island; Elevator; Ceiling fans; Pantry; Other built-ins; Shutters and window coverings; Gas log fireplace
• Laundry & utility: Laundry in hall; Laundry closet; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/3.5-bath single-family listed at $1.60M.

Deal economics

• At list price, monthly cash flow is $8k ($95k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($24k rent vs $1.60M).
• Cap rate 12.2% vs local median 2.1% in Kure Beach — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 65/100 on livability (#303 in NC) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A; Watch: health & safety D, amenities F, commute F.
• New Hanover County Schools (urban): math 48% / reading 53% proficiency, ranked #61 of 178 in NC (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Carolina Beach Elementary (math 55% / reading 59%, grade C+, #249 of 1,410 statewide, top 20%, 431 students, 32% FRL); Charles P Murray Middle (math 59% / reading 59%, grade B, #54 of 475 statewide, top 12%, 882 students, 34% FRL); Eugene Ashley High (math 48% / reading 68%, grade C, #243 of 535 statewide, top 46%, 1,975 students, 34% FRL).
• Market conditions: 94 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,581 units permitted in New Hanover County in 2024 (1,185 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $11k of loan paydown is wiped out by about $48k of value loss. Plan a longer hold.
• New Hanover County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $448k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 19y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $145k; list at $1.60M implies a 1003% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,600,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
4. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
5. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.50% ✓
• Cap rate: 12.22%
• Cash-on-cash: 21.17%
• DSCR: 1.94
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $1,002,016
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
317 Sixth Ave S	0.10mi	5/4.0 (+1)	2,900 (+5%)	7mo	$1,425,000	$491	74
712 S Fourth Ext	0.50mi	4/3.5	2,786 (+1%)	6mo	$945,000	$339	71
605 S Third Ave	0.36mi	3/3.0 (-1)	2,957 (+7%)	12mo	$605,000	$205	55
829 Fort Fisher Blvd S	0.59mi	5/5.0 (+1)	2,853 (+3%)	8mo	$2,000,000	$701	50
465 Fort Fisher Blvd N	0.72mi	5/3.0 (+1)	2,600 (-6%)	2mo	$1,057,777	$407	48
309 Kure Dunes Ln	0.65mi	4/3.0	2,897 (+5%)	16mo	$1,275,000	$440	47
933 General Whiting Blvd	0.73mi	5/2.5 (+1)	2,618 (-5%)	1mo	$745,000	$285	47
306 N Fifth Ave	0.47mi	3/3.0 (-1)	2,926 (+6%)	20mo	$907,000	$310	45
601 Sandman Dr	0.54mi	3/2.5 (-1)	2,373 (-14%)	22mo	$860,000	$362	24

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.7%
• Equity multiple: 1.55×
• Total profit: $244,424
• Equity at exit: $238,565

10-year hold

• IRR: 22.5%
• Equity multiple: 2.93×
• Total profit: $862,431
• Equity at exit: $138,339

Cash invested: $448,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 85 Strongly Landlord-Friendly
• State North Carolina: 85 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

10-day notice; preempted; landlord-favorable but court speed varies.

Methodology + full state rankings →

ZIP-level market 28449

• Active inventory: 94
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $24,000 medium
• Mortgage (P&I): −$8,391
• Tax est. 1.5%: −$2,000 /mo · $24,000/yr
• Insurance: −$667
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,040
• Net cashflow: $7,903

Break-even live

Break-even rent $13,997

Max offer price $1,600,000

Occupancy floor 62%

Sensitivity live

Price	-10% $9,008	-5% $8,456	+0% $7,903	+5% $7,350	+10% $6,797
Rent	-10% $6,007	-5% $6,955	+0% $7,903	+5% $8,851	+10% $9,799
Rate	-1.0pp $8,709	-0.5pp $8,310	base $7,903	+0.5pp $7,488	+1.0pp $7,066

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $400,000
• Closing costs: $48,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1622 Swordfish Ln #1 Carolina Beach, NC	4.0	3.5	2476	$24,000	$9.69	22d	1	1.34mi

Listing history 5 events

1. 2026-06-21
   days on market $1,600,000 Active 6 DOM
2. 2026-06-18
   days on market $1,600,000 Active 3 DOM
3. 2026-06-17
   days on market $1,600,000 Active 2 DOM
4. 2026-06-15
   remarks 699-char remark
5. 2026-06-15
   listed $1,600,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 9% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $288,000
• − Mortgage interest: −$89,625
• − Property taxes: −$24,000
• − Insurance: −$8,000
• − Repairs & maintenance: −$23,040
• − Management: −$23,040
• − Depreciation: −$46,545
• Taxable income: $73,750
• Est. tax owed @ 24.0%: −$17,700
• After-tax cash flow: $77,133/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: New Hanover County Schools
• NCES district ID: 3703330
• Math proficiency: 48% ▼ -3.00%
• Reading proficiency: 53% ▬ 0.00%
• Median HH income: $49,406
• Composite: 43.13/100
• National rank: #3081
• State rank: #61 of 178 in NC

Livability — Kure Beach

• Score: 65/100
• State rank: #303
• US rank: #12563

Category grades

Amenities F Commute F Cost of living F Crime A+ Employment A+ Housing A Health & safety D User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kure Beach, NC
• Population (ZIP): 2,017

Population outlook (New Hanover County) Hauer SSP2

• Today (2025): 259,517 people
• By 2030: 279,586 · +7.7%
• By 2040: 318,223 · +22.6%
• By 2050: 354,831 · +36.7%
• By 2075: 437,158 · +68.5%
• By 2100: 486,769 · +87.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 3%
• Common ancestry: Romanian 6% Serbian 5% Lithuanian 4%
• Foreign-born: 3% · Canada
• Languages at home: 98% English-only · French/Haitian/Cajun 2% Other Indo-European 1%

Political lean MEDSL · New Hanover

• 2024 margin: Toss-up / Even · D 49.8% · R 49.1% · Other 1.1%
• 2008→2024 swing: +2.0pp toward D · 2008: -1.4pp · 2024: 0.6pp
• All cycles: 2024: D+0.6 2020: D+2.1 2016: R+4.1 2012: R+4.7 2008: R+1.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -197.31%
• Current HPI: 246.571
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 3.28%
• F500 in state: 26

Industry mix (Fortune 500 HQ in NC)

Industry	F500 HQs	Revenue
▸Financial Services	2	$213B
▸Retail	2	$95B
▸Industrial Conglomerate	1	$38B
▸Metals / Steel	1	$35B
▸Utilities	1	$30B
▸Industrial Machinery	1	$19B

Price history

+2439.7% since first listed

7 events — show timeline

• 2026-06-15 Listed $1,600,000 Hive MLS
• 2014-11-21 Sold (Public Records) $145,000 Public Records
• 2013-12-31 Listing Removed — Hive MLS
• 2012-04-20 Listed $249,000 Hive MLS
• 2007-06-27 Sold (MLS) $228,000 Hive MLS
• 2007-03-16 Listed $249,900 Hive MLS
• 1998-11-01 Sold (Public Records) $63,000 Public Records

Property tax history

-1.1%/yr

Latest (2025): $1,108 · -80.9% YoY. Source: county tax records.